This new app makes luxury cars accessible to anyone with $100
One of the oldest sayings in the book may be that you always want what you can’t have, and that seems to ring nothing short of true when it comes to big, expensive things.
High up on that list? Classic cars.
Investing in a rare, coveted luxury vehicle is something that only those well-enough off have historically had the ability to do.
And for millennials, that difficulty nearly tenfolds, as most have a scarce or blank investment portfolio to work with, not to mention a limited knowledge of all things investing and what the concept of long-term pay off means — millennials want it fast and they want it now.
But now, through a few clicks on a revolutionary new app, it looks like diving headfirst into the classic car market is a reality for millennials and all interested investors alike.
Rally Rd. is a streamlined and user-friendly platform that allows members to invest in classic cars with shares priced between $50 and $500.
Yes, really, that cheap!
The app presents users with luxury cars of their dreams, including photos, history of the car and its owners and how many other shares have been purchased.
In short, it provides anything and everything a future investor would need to see in order to make a decision, all through a swipe-able and visually grabbing setup.
Last month, Rally Rd. showcased two of its cars at a pop-up shop in New York at the first of what the company hopes becomes many brick-and-mortar locations. The showroom boasted a 1955 Porsche Speedster (valued at $425,000) and a 1985 Ferrari Testarossa ($165,000).
Take a look through the drool-worthy vehicles and the pop-up here:
The company’s mission is simple, according to CEO Christopher Bruno:
“By democratizing the collector car market, and soon other high-end assets, we’re providing access, price transparency, and liquidity to a new generation of investors.”
Though the app is only featuring cars right now, the possibilities as to what assets could be next — luxury clothes, sports memorabilia — seem endless.
Becoming an owner of a luxury item for a share that’s probably the same price as your weekly grocery budget?
We’ll rev our engines to that!